Explaining the EU’s Uneven Influence Across the International Regime Complex in Shadow Banking

Lucia Quaglia and Aneta Spendzharova
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Lucia Quaglia: Department of Political Science, University of Bologna, Italy
Aneta Spendzharova: Department of Political Science, Maastricht University, The Netherlands

Politics and Governance, 2023, vol. 11, issue 2, 6-16

Abstract: This article shows that the EU has exerted uneven influence within the global regime complex in shadow banking. Why? We seek to explain the variation in the EU’s ability to exert influence across different elemental regimes—those on hedge funds and securitization—in the broader regime complex over time. In hedge funds regulation, the EU has pursued more stringent international rules, to no avail. In securitization, the EU has been more successful in promoting more lenient regulation at the international level. We focus on the EU’s internal cohesiveness (which can change over time) as the key explanatory variable.

Keywords: Bank of England; EU cohesiveness; European Central Bank; finance; hedge funds; international regime complexity; securitization; shadow banking (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:cog:poango:v11:y:2023:i:2:p:6-16

DOI: 10.17645/pag.v11i2.6272

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